Based on daily chart we are testing first possible supply level/zone and there is some reaction ( hence not big yet )
Im going to sell intrtaday rallies twds 70ish and more details on intraday chart within few minutes
Juncker May meeting today 17:30 GMT
I'd rather buy from this level. The reason for this is obvious to me. Price closed above bearish trendline both on the Daily chart and on the Weekly chart. Price action retested the moving avarege and the bearish trendline as well.
Follow this chart to see the updates or follow my page to see my analysis on other pairs.
Rebound from the lower boundary of the ascending channel (violet line).
Breakdown of the descending trend line (H4), (orange dashed line).
Rebound from EMA600 (H4).
Possible scenario on the chart.
Targets on the chart.
Alternative scenario on the chart.
High risk trade!
Thank you for your attention.
I will buy pound abowe 1.2308
Possible targets on the chart.
but we have AB=CD bearish also
Now we are above EMA55.
Alternative scenario will after break below red line - 1.2147